Quantinno Capital Management LP Has $24.23 Million Holdings in Sun Communities, Inc. $SUI

Quantinno Capital Management LP boosted its position in shares of Sun Communities, Inc. (NYSE:SUI) by 21.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 192,324 shares of the real estate investment trust’s stock after purchasing an additional 33,719 shares during the period. Quantinno Capital Management LP’s holdings in Sun Communities were worth $24,225,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Sun Communities by 1,226.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 199 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 184 shares in the last quarter. Fulcrum Asset Management LLP bought a new position in shares of Sun Communities during the third quarter worth about $27,000. Wiser Advisor Group LLC bought a new position in shares of Sun Communities during the third quarter worth about $46,000. Oslo Pensjonsforsikring AS acquired a new stake in Sun Communities in the 1st quarter valued at approximately $49,000. Finally, Prosperity Bancshares Inc acquired a new stake in Sun Communities in the 4th quarter valued at approximately $48,000. Institutional investors and hedge funds own 99.59% of the company’s stock.

Sun Communities Stock Performance

Shares of NYSE SUI opened at $123.75 on Friday. The stock has a 50 day moving average price of $122.04 and a 200 day moving average price of $126.43. Sun Communities, Inc. has a 52 week low of $115.90 and a 52 week high of $137.85. The company has a debt-to-equity ratio of 0.70, a quick ratio of 3.39 and a current ratio of 2.52. The stock has a market capitalization of $15.07 billion, a PE ratio of -17.45, a price-to-earnings-growth ratio of 4.03 and a beta of 0.79.

Sun Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $1.12 per share. The ex-dividend date was Tuesday, June 30th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.6%. Sun Communities’s dividend payout ratio is currently -63.19%.

Wall Street Analyst Weigh In

SUI has been the topic of several research reports. Truist Financial cut their target price on Sun Communities from $141.00 to $138.00 and set a “buy” rating on the stock in a research note on Friday, June 26th. Mizuho decreased their price target on shares of Sun Communities from $143.00 to $137.00 and set an “outperform” rating for the company in a research note on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft set a $133.00 price objective on shares of Sun Communities in a report on Thursday, May 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Sun Communities in a research report on Wednesday. Finally, Odeon Capital Group set a $135.00 target price on shares of Sun Communities in a report on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $139.98.

Insider Buying and Selling

In related news, EVP Fernando Castro-Caratini sold 23,750 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $124.43, for a total transaction of $2,955,212.50. Following the transaction, the executive vice president directly owned 9,998 shares in the company, valued at approximately $1,244,051.14. The trade was a 70.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gary A. Shiffman sold 25,031 shares of the business’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $119.96, for a total transaction of $3,002,718.76. Following the transaction, the director owned 857,761 shares in the company, valued at approximately $102,897,009.56. The trade was a 2.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.58% of the company’s stock.

About Sun Communities

Sun Communities, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company’s portfolio spans more than 500 manufactured housing communities and over 160 RV resorts, offering affordable, long-term housing as well as short-stay recreational lodging. Through professional on-site management and amenity-rich community designs, Sun Communities serves a diverse customer base that includes retirees, workforce families and vacationers.

Founded in 1975 and headquartered in Southfield, Michigan, Sun Communities has grown organically and through strategic acquisitions to become one of the largest operators in its sector.